British newspapers agree to new regulator

LONDON (AFP) - Britain's newspapers on Wednesday agreed to create an independent press regulator as recommended by the Leveson report, but refused to commit to its controversial proposal for statutory backing.

Tabloid and broadsheet editors met in London for a breakfast meeting and agreed to 40 of judge Brian Leveson's 47 proposals, clearing the path for the creation of a regulator able to issue fines of up to 1 million pounds (S$2 million).

But the editors refused to sign up to seven of the report's proposals, which called for a statutory body to audit the regulator, according to those present at the meeting.

Independent editor Chris Blackhurst, the editor of the Independent, called the spirit of cooperation "really quite remarkable".